₦airaland Forum

SA billionaire overtakes Dangote as Africa’s richest man


South African billionaire Johann Rupert has overtaken Nigerian industrialist Aliko Dangote as Africa’s richest person, according to the latest data from the Bloomberg Billionaires Index.
Mr Rupert controls Richemont, one of the world's largest luxury goods firms, which owns brands like Cartier and Montblanc.
His net worth has surged by $1.9bn to $14.3bn, placing him at 147th position globally, 12 places ahead of Mr Dangote.
The Nigerian's fortune has fallen by $1.7bn (£1.3bn) this year, giving him a net worth of $13.4bn, Bloomberg reports.

The downturn in Mr Dangote’s wealth underscores Nigeria’s challenging economic environment, where his conglomerate primarily operates.
Since President Bola Tinubu assumed office last year, he has introduced several economic reforms in Africa’s most populous nation, including the removal of fuel subsidies, which have contributed to high inflation, currently over 30%.
Mr Tinubu said the reforms were necessary to cut government spending and stimulate long-term growth.
Africa’s richest man says he doesn’t own a home outside Nigeria

The sharp fall in the value of the naira has significantly affected Mr Dangote, whose wealth is largely tied to assets denominated in the local currency.
The 66-year-old businessman made his wealth in the cement and sugar industries - and last year opened an oil refinery in Nigeria's economic hub, Lagos.
His business empire, the Dangote Group, has also faced numerous setbacks in recent months due to production delays at its refinery and supply chain disruptions.
He was listed by Forbes magazine in January as Africa's richest man for the 13th year in a row despite the country's economic difficulties.
But the latest Bloomberg index places him second in Africa and 159th globally.
The rise in Mr Rupert's net worth was buoyed by strong performances in the luxury goods sector.
As well as the Switzerland-based Richemont, his other holdings include Remgro, a South African investment vehicle with stakes in more than 30 companies, Bloomberg reports.
He inherited the family business from his father, Anton Rupert, and has expanded it from mostly tobacco to become a multi-billion-dollar luxury goods venture.
The businessman attended the University of Stellenbosch to study economics but dropped his studies to join his father’s business in 1984.
Mr Rupert has been vocal about political and environmental issues in South Africa and campaigned against white-minority rule. He has received several awards for his business activities.
The billionaire lives in Cape Town, where he owns a lavish mansion, but he also has properties in Geneva and London.
Nicky Oppenheimer, another South African billionaire, was ranked the third richest person in Africa with a net worth of $11.3bn, followed by Nassef Sawiris, an Egyptian businessman, with a fortune of $9.48bn.
South African investor Natie Kirsh completed the top five African billionaires list with $9.22 bn.
Like Forbes, the Bloomberg ranking monitors daily changes in the net worth of the world's wealthiest individuals.
The title of Africa's richest person may continue to change hands as market conditions fluctuate and businesses navigate complex challenges.


https://www.bbc.com/news/articles/c9qgpx2ngvro

Ok

Ok

Some morons still think Nigeria will be great .

egunna:
life don do you 50/50 coz this ur English no be here.wetin b this?u skip English classes for school?

Ok professor, English is not native language to u or me or in Nigeria or in my adopted country

Slow plokes , doesnot understand the big picture and think about language, while living in sh@t conditions, wherever they live.

Amarachieze:
Are you sure you have high IQ? Ignorant people also think they are wise. By the way, who defines what is high IQ and low IQ?

Religious slowpoke pointed .

ok

This is the major problem, why blacks will always be third class citizen of the world .

Have said in one other thread ,that inspite of living majority of life and being citizen and living a good life in adopted country , I want to be reborn in Nigeria as a politician or pastor children . The mumu IQ of average nigerian citizen helps me ,live a rich and affluent lifestyle .

I , can fly in private jets and drive in porche ,BMW etc ,and enjoy life to fullest .

Ok

I love to be born again as a Nigerian either as a politician or their children.

Too many religious morons , I can easily fool.
A life worth of morons for us, is equal to lifespan of a used tissue paper .

All this big grammer , with no use to common man .

Nigeria is fast becoming moving towards the failed state status , Nothing is working in that country .

Thank god for my father, choosing wisely to move abroad in 2001

Big useless semi giant .

Ok

Why do billionaires do all sorts of criminality right from manufacturing fake things to having fake or no permits all across Nigeria ,and i am not mentioning main source of criminality that is selling drugs ,Kidnapping and cannibalizing fellow billionaires and other citizens of nigeria .

This is most boring olympics ever , hardly a buzz around the event anywhere in the world.

Nigeria and it's people have a lot of things to think ,then care about olympics like obituary.

It's there country , let them enjoy what they want.

Eagleways:
you have not been taking your drugs

Bookmark this is page and will come for u you , while u r still alive .

Nigeria as an entity cannot survive , much longer . It , can survive for a few years at maximum .

The writing is on the wall .

You can blame politicians for all , Uncontrolled population explosion in North and with no education led by politicians and religious leaders .while in South ,the get rich mentality driven by Pentacostal churhes ,which has played havoc on entire generation of southern youths .

Nigerian Politicians ,the general people and religious groups ,all share the blame .

Iam poster since 2009 and have seen Nigeria deteriorate over the years , we are competing with Bangaladesh , now and thus says a lot .

The more the southern groups try to hold on with the union ,the more they will suffer .

Her arrogance lead to her fall.

ok

PapaBrowne:
Totally agree. Except maybe for Harvard.
Stanford's location as in Bay area and Silicon valley helps make it the leading institution for entrepreneurship and start up companies.

Topic:
The Mckinsey CEO says, : If you want to succeed in tommorow's business world, you must know a Chinese , A brazilian, an Indonesian and a Nigeria Business Executive. He puts Nigeria at the top of the league.

Some of the highlights of the speech:
There is a tectonic shift in global economics with power shifting from the traditional west to the global south.
3 Billion new middle class would be created from Emerging markets.

Nigeria would have more newborns this year than all of Europe combined.
Implication: Make toys, Start a baby clothing line, Ecommerce in baby products, Open a creche,Make Napkin, Wipes and Diapers and you'll make a hell of money.

Nigerians are starting some of the most amazing companies in the globe.
Implications: Serve as a consultant. Provide services for companies in accounting, logistics& distribution, Human Resource, Digital arts, Media/Communications, Outsourcing. IT. And a whole lot more.
One Example: E commerce is gaining tremendous grounds in Nigeria. But there is no organized distribution channel to get products across the country. Huge opportunity for a company that would engage in nationwide door to door delivery..

I tell my new executive directors, in the first 2 months of operations, they must have either met a Chinese, Brazilian or Nigerian executive.
Implication: Companies are seeking to come to Nigeria in droves. Those Stanford students are going to leave that hall thinking, I got to do some more research about Nigeria. The opportunities there must be crazy! They are gonna want to start up new companies here. Its already happening. Procter and Gamble is opening a new manufacturing plant in Nigeria focusing on Diaper production. 350 million dollars investment. And it is happening on the strength of the number of middle class newborns that would enter the market.
Opportunities would exist for individuals who can partner with all these companies looking to set foot in Nigeria.


Immense opportunities. A positive outlook is the first step to taking advantage of these opportunities. In the next 15 years, the world is going to need 76 new Procter and Gambles to cater for the 3 billion new middle class. Procter and gamble sold $84 Billion in 2012. You could actually be the owner of one of them instead of one of those Stanford grads! Lets take advantage!

Nigeria and Indonesia loss is gain for India and Vietnam . They are seriously benefiting as western companies are shifting production from China .

Every month Vietnam is announcing a billion dollars plant by western companies ,ditto India .

Gerrard59:


Eleven years on. Tensa20, my oga, has won again. 😂

Its a sad pity , 11 years back Nigeria is 80 % to 90 % of India in development . Now India has pulled far ahead of Nigeria .

Comparing Nigeria to India is like comparing India to China .

Buhari is the sole person responsible for this sh@t .

ok

Broveens42:
Popular Abuja radio show on Berekete, has seen it's moderator criticize the Finnish government for allowing ekpa's activities in the south east.
The moderator can be heard saying " ..and you keep him in your country. Most of you , Europeans and Americans are nothing without Africa and you think we will tolorate what you do here, Ekpa is destroying Nigeria... Please any where you people see Finland goods or products in the super market, don't buy..."


Simon ekpa has since reacted to the clip with a laugh emoji on x

😂😂😂 pic.twitter.com/l8PrwSeGBj

— Simon Ekpa (@simon_ekpa) July 5, 2024

/mediaViewer?currentTweet=1809317224324427784&currentTweetUser=simon_ekpa

The problem with black race is self delusion .

Goodvibes007:
1. There is. Labour a liberal will always push liberal views like LGBTQ stuff and give out or increase social benefits usually for low income. Tax cooperation and people more to fund their spending. Immigration friendly.

Conservatives are conservative. The conserve, spend less money, often reduce taxes of cooperations and business and not so keen about LGBTQ stuffs. Less immigration friendly e.t.c

2. Your are right. They don't change political party like Nigerian politicians that jump from one party to the other. They have honour. A good example of a Nigerian politician that jumps around is the one below.

You are a bad person

What the big deal in this news?.

Many countries eat whale meat.

After developing other countries , they finally realized they have to develop there own region , kudos to developers.

Wailers will soon takeover this thread .

I , have said previously and will say now .

Putin or Zelnsky wishes have no importance to African contintient except for food prices .

The third main person after Biden and XI ,for economic development in this world ,is Modi of India .

Inspite of many issues facing India , India is the fasted growing major economy at 8 percent and projected to be 3rd largest in dollar terms by next year .

The main point is not projecting greatness of India , but the opportunites which we African countries can exploit .

Indian software exports in this year is around 200 billion dollars ,The companies r facing higer costs and margins are getting squeezed out , due to booming economy .

Kenya and south Africa are best placed due to age old connections to India, to attract them to their shores .The western countries will be very glad as African countries provide alternative to India , 70 percent of Indian Software value goes to western countries .

African countries lost in 2010 to 2015 , when entire segment of BPO or call centers shifted from India to Philippines .

African countries especially the countries, i mentioned need to attract software companies ,unless they lose to Philppines or other Asian countries .

Why iam saying is this , i have seen first hand as iam a tech guy from Nigeria based in India as i have inferred in many previous posts .
Transformation of India is mainly due to software Industry .

Dont depend your economy by selling Gold,oil or platinum ,these will last only upto certain time . Invest in human resources and see the wonder .

To be honest, this introduction of religion to the already votile mixture of Tribalism ,Insecurity ,along with Severe economic challanges will only lead to disntegration or a failed state .

Politicians and religious leaders should stop inflamming a already tense situation .

Do these people know the meaning of innovater.

Nigerians and their compound stupidity